• Bitcoin’s $40,000 put becomes second-largest options bet ahead of February expiry next week Heavy positioning at lower strikes signals rising demand for downside protection for bitcoin. • What to know: The $40,000 put option is the second largest strike by open interest, with about $490 million in notional value, highlighting strong demand for crash protection into the Feb. • Roughly $566 million is positioned at the $75,000 strike, the max pain level. • Calls still outnumber puts overall, showing traders are balancing rebound exposure with downside hedges. • The $40,000 put option has emerged as one of the most significant positions in bitcoin’s market ahead of the Feb. • 27 expiry, highlighting strong demand for downside protection after a bruising selloff.
Article Summaries:
- Bitcoin’s $40,000 put becomes second-largest options bet ahead of February expiry next week Heavy positioning at lower strikes signals rising demand for downside protection for bitcoin. What to know: - The $40,000 put option is the second largest strike by open interest, with about $490 million in notional value, highlighting strong demand for crash protection into the Feb. 27 expiry. - Roughly $566 million is positioned at the $75,000 strike, the max pain level. - Calls still outnumber puts overall, showing traders are balancing rebound exposure with downside hedges. The $40,000 put option ha
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